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Apple unveils contactless payments via Tap to Pay on iPhone

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Re: Apple unveils contactless payments via Tap to Pay on iPhone

#81

Post by throwaway894345 »

jacquesm wrote: post #34
melling wrote: post #23

Earlier quoted context omitted.

The long slow road to contactless payments. Almost 2 decades along in the technology adoption curve. I was ready for this in 2005. https://money.howstuffworks.com/personal-finance/debt-manage... If course as the article points out, it wasn’t even new technology back then: “ Not Exactly New Tech Mobile introduced the Speedpass in 1997. Speedpass is a small device on a keychain (called a fob) that users wave in front o…

EU has contactless paying for a while now, but it uses a chip embedded in the bank card.

I studied abroad in France in 2012--at this time, all European card readers had been chip-based for quite a while and my US credit card didn't have one. I couldn't figure out how to use them and many store clerks had no idea what to do with my magnetic-strip credit card.

I went to England in 2019, at which point cards in the US had been updated to use magnetic stripes, and everyone was using tap-to-pay. It turns out my credit card had tap-to-pay support as well but it wasn't widely used in the US (or at least in my sphere). Now it finally seems common-enough here.

I'm planning another trip to Europe in the next year... Really eager to see what payments look like nowadays.

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#82

Post by mike1o1 »

yuuu wrote: post #67
TIPSIO wrote: post #47

I would really like to see it become normal for tipping people this way (that isn't at a cash register / tap) but with AirDrop. For example, I recently had movers. I went out of my way to get a cash tip for them earlier. It would have been nice to skip that and just ping it at them somehow without awkwardly saying "Hey friend do you have Venmo? Apple Pay? CashApp? I'd like to tip you. What's your phone number?! Let m…

I had movers a couple months ago and tried to tip them. Note that I don't ever carry cash and am a proponent of abolishing the Federal Reserve. I asked them for their Ethereum or Bitcoin address, and they said, "neither of us don't have that, but we take cash." I calmly tried to explain to them the evils of the Federal Reserve for around five minutes, then began to set them up with their own cryptocurrency wallets on…

I can't tell if this is satire or not.

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#83

Post by ChicagoBoy11 »

WillPostForFood wrote: post #79
yuuu wrote: post #67

Earlier quoted context omitted.

I had movers a couple months ago and tried to tip them. Note that I don't ever carry cash and am a proponent of abolishing the Federal Reserve. I asked them for their Ethereum or Bitcoin address, and they said, "neither of us don't have that, but we take cash." I calmly tried to explain to them the evils of the Federal Reserve for around five minutes, then began to set them up with their own cryptocurrency wallets on…

set them up with their own cryptocurrency wallets on their phones What specifically did you have them set up?

Woosh

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#85

Post by tut-urut-utut »

sabjut wrote: post #14

Clarification due to a somewhat confusing title: This is about the merchant using an iPhone to accept credit cards and other Tap to Pay devices. The customer was able to pay with Tap to Pay with their iPhone for a while now.

I honestly don't see what's so revolutionary about this. Why would anyone shell out multiple hundreds of € when a device that accepts payments can be purchased for a fraction of the iPhone price?

E.g the most expensive device here [1] is only 120 €, and it can also print the bill. The cheapest that does the job is a mere 20 €.

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#86

Post by tiffanyh »

This is the outcome of Apple's 2020 acquisition of Mobeewave.

https://www.pymnts.com/apple/2020/apple-buys-mobeewave-for-1...

It essentially turns an iOS device into a POS system.

Apple already gets 15 bps for all Apple Pay transactions. I'm curious to hear the additional monetization Apple plans to get for this.

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#87

Post by cruano »

yuuu wrote: post #67
TIPSIO wrote: post #47

I would really like to see it become normal for tipping people this way (that isn't at a cash register / tap) but with AirDrop. For example, I recently had movers. I went out of my way to get a cash tip for them earlier. It would have been nice to skip that and just ping it at them somehow without awkwardly saying "Hey friend do you have Venmo? Apple Pay? CashApp? I'd like to tip you. What's your phone number?! Let m…

I had movers a couple months ago and tried to tip them. Note that I don't ever carry cash and am a proponent of abolishing the Federal Reserve. I asked them for their Ethereum or Bitcoin address, and they said, "neither of us don't have that, but we take cash." I calmly tried to explain to them the evils of the Federal Reserve for around five minutes, then began to set them up with their own cryptocurrency wallets on…

Anon needs to move to El Salvador

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#88

Post by ra7 »

0des wrote: post #24
reffaelwallen wrote: post #21

Impactful to Square?

Square is a different market segment, more of the first year, trendy-but-still-playskool retail merchant setup.

Could you expand how Square is different market segment? I thought POS terminal was one of their primary products.

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#89

Post by skeeter2020 »

yuuu wrote: post #67
TIPSIO wrote: post #47

I would really like to see it become normal for tipping people this way (that isn't at a cash register / tap) but with AirDrop. For example, I recently had movers. I went out of my way to get a cash tip for them earlier. It would have been nice to skip that and just ping it at them somehow without awkwardly saying "Hey friend do you have Venmo? Apple Pay? CashApp? I'd like to tip you. What's your phone number?! Let m…

I had movers a couple months ago and tried to tip them. Note that I don't ever carry cash and am a proponent of abolishing the Federal Reserve. I asked them for their Ethereum or Bitcoin address, and they said, "neither of us don't have that, but we take cash." I calmly tried to explain to them the evils of the Federal Reserve for around five minutes, then began to set them up with their own cryptocurrency wallets on…

>> I calmly tried to explain to them the evils of the Federal Reserve for around five minutes ... >> sent them each their five dollar tip ... >> It was a simple process and did not take longer than thirty minutes.

This is satire, right?

Re: Apple unveils contactless payments via Tap to Pay on iPhone

#90

Post by Spivak »

lmz wrote: post #38
Spivak wrote: post #27

Earlier quoted context omitted.

That’s not at all comparable since you’re not really paying. By that logic we’ve had contactless payments for hundreds of years in the form of opening a tab at a merchant.

That's sounds like stored value or contactless debit. What do you mean "not really paying"?

You're not actually initiating a transfer of money. Sure, it feels like that but in reality they're just storing your CC info and debiting you either in advance (like gas) or settling up (like hotels). You have to have a prior relationship with the company handling your account and figure out a secondary out-of-band payment flow. The fob doesn't really add anything except as a holder of your account id.

The only thing they have in common is the physical action of "boop boop" at a terminal or scanner.

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